Tesla Improves Expense Management and Capital Spending in the Second Quarter
We are not changing our moat or fair value estimate for Tesla after the company’s second-quarter adjusted revenue and EPS missed consensus. We continue to see Tesla’s stock with option value that is based on what the firm can do many years, if not decades, from now so quarterly results are often overdone in the press. Second-quarter adjusted EPS was a loss of $1.06 versus a consensus loss of $0.52. Deliveries of 14,402 vehicles was not very different from the announced number on July 3, with Mod...Tesla designs, develops, manufactures, sells and leases electric vehicles and energy generation and storage systems, and provides services related to its products. The company operates as two reportable segments: automotive, which includes the design, development, manufacturing, sales, and leasing of electric vehicles as well as sales of automotive regulatory credits; and energy generation and storage, which includes the design, manufacture, installation, sales, and leasing of solar energy generation and energy storage products, services related to such products, and sales of solar energy system incentives.
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